Splunk CEO Sells Nearly $1M in SPLK Stock

Company shares are down close to 18% Friday afternoon

The CEO of Splunk (SPLK) sold close to $1 million in SPLK stock on Wednesday.

CEO Godfrey Sullivan sold 20,000 shares of SPLK stock for $977,400.00, or an average price of $48.87. Sullivan now directly owns 439,690 company shares.

Splunk reported its most recent quarterly earnings report on Thursday, May 29 and the company’s $85.90 million in revenue exceeded analysts’ estimates by about $5 million. The company’s quarterly revenue is also up 50.2% on a year-over-year basis.

SPLK stock has been hit hard by the CEO’s sale with shares down about 17.2% Friday afternoon. Company shares are down close to 40% YTD.